Planning ahead is important, and I consider the Roth IRA a useful tool for every person who qualifies. That includes babies, who, like everyone else, should think about saving for their future. Because babies are not capable of comprehending what this is, their parent has to think for them. For the 2023 tax year, you can contribute $6,500 if under age 50 or $7,500 if age 50 or older. There are income limits involved, but I doubt any babies even approach it. Even a mere $300 per year for the child’s entire childhood, with no further contributions made past age…